Keep an eye on the minutes of the Fed meeting (August 17, 2022).

The Thai stock market continued to rise. of foreign investors’ money As a result, the SET Index closed at 1,629.95 points, +4.70 points, +0.29%, trading value 76,867 million baht, foreign +5,004.59 million baht, TFEX -7,969 contracts, fixed income +3,507.27 million baht.

a positive factor

+ The Dow closed 239.57 points +0.71%, driven by strong earnings from retail companies and investor optimism that Fed hits inflation target After the Fed pursued a tighter monetary policy and raised interest rates to curb inflation, which has risen to its highest level for decades.
+ Ukraine said it could export 3 million tons of grain from ports in September and may increase to 4 million tons per month in the future
+ The Bank of Thailand is preparing to announce new measures “Modification Loan” is expected to provide a credit line of 65 billion to support the borrowing of enough “SMEs”, hoping to help the debtor. Revitalize your business after COVID-19
+ Bank of Thailand summarizes the results of commercial banks for the period 2Q22 with a profit of 6.47 billion baht +7.2%, loan growth continued at 6.3%, and bad debt remained at 527 billion baht, looking to raise interest rates, the policy it does not cause more bad debts
+ Cabinet gives the green light for a secret agenda Royal Decree requiring the Ministry of Finance to guarantee the loan amount of the oil fund of 150 billion baht after the oil fund lacks liquidity, a deficit of more than 100 billion baht.
+/- The Professor’s report on the epidemic situation of the Covid-19 virus. in the country today The new patient was treated in hospital. 2,461 cases, 28 deaths, 2,243 recoveries.

negative factors

WTI crude futures fell $2.88, or 3.2 percent, at $86.53 a barrel. Concerns about the global economic recession After the United States and China released weak economic data, oil prices were also under pressure from the possibility of progress in the Iran nuclear deal negotiations. This could pave the way for Iran to return to its oil market.

The United States reported that housing starts fell 9.6 percent in July to 1.446 million units, the lowest since February 2021. And below analysts’ estimates of 1.540 million units, affected by the rise in mortgage interest rates . and the prices of building materials
– Financial News reported that China needs to introduce more measures to boost economic growth. of the recovery which is not strong enough and economic momentum started showing signs of slowing down.
Germany’s economic sentiment index fell to -55.3 in August, below analysts’ forecast of -53.8 from -53.8 in July.

today’s market trend

Expect the index today to have a chance to swing sideways, while still lacking new factors to support the market. Investors will also be keeping an eye on the minutes of the Fed meeting tonight, as the price of WTI crude oil continues to fall. pressure on energy stocks Look at today’s index frame at 1620-1,635 points.

investment strategy

• MPC raises policy rate 0.25% + Bank shares benefit from Bank of Thailand dividend ceiling cut and interest rate hike We like big banks KBANK BBL SCB KTB TISCO.
• More foreign patients : BH BDMS D
• Half person project Phase 5 : TNP KK BJC MAKRO CBG OSP TKN ICHI SAPPE
• MSCI Global Standard adds shares to the calculation, effective 31 August : KBANK
• Hotel stock performance has improved : MINT Acres CENTEL AWC SHR

special report stock

LEO (Bloomberg Consensus 21.10 baht)

2Q22 reports record profit

•2Q22, the company’s revenue was 1,335.1 million baht, a decrease of -19% QoQ in line with the drop in freight rates. But still growing by a jump of +139%YoY as the number of containers increases. together with the continued recovery of air transport Gross profit was at 20%, improving from 15% in 1Q22 due to effective cost management. resulting in the company reported a 2Q22 net profit of 99.8 million baht, an increase of +11.0% QoQ and +133.8%YoY, reaching an all-time high.

• 2H65 earnings forecasts have the opportunity to grow more than the first half of the year. Because this is the import-export season to sell products during the Christmas and New Year holidays. In addition, the company has benefited from the Global Shopping Sale Festival from various eCommerce platforms around the world. In addition, the company has made a second self store in Yaowarat after the outbreak of Covid-19. Making more use of the service and a second container yard which will be ready to open in the second half of the year The company aims for revenue growth of 30-35% in 2025.

opinion We have a positive view on LEO as the company has achieved 6 consecutive quarters of New High earnings. while the trend for the second half of the year continues to grow well In addition, the company is still studying business expansion. To help drive strong and sustainable revenue and profit growth, we recommend BUY based on the Bloomberg Consensus price of Bt21.10.

stocks have news

(+) EA (Bloomberg Consensus 96.00 baht) Moving forward with the carbon business of EV buses. The Swiss government signed pointing to a strong future Prepare to deliver 150 EV buses on August 20 this year, providing no less than 1,000 units Continue the EV truck game. Chinese partners recently joined hands to get on the EV train. After the big railway giant China sent the locomotive to Thailand. Preparing for this year’s test Save energy by more than 40% (Source: Stock Tan)

(+) CHAYO (Bloomber Consensus 14.30 baht) Check 2.5 billion baht to buy debt into the portfolio. Look out for September Sign a new debt purchase agreement. In terms of credit business, we are confident that this year’s new loan sales will exceed the target of 1.2 billion baht, showing a fragrant APC, customers are negotiating 1-2 pitches, expecting to conclude this year, 1 case , accelerating joint phase closure. enterprise agreement with financial institutions within this year)

(+) ACRE (Bloomberg Consensus 4.30 baht) Full year 2022 revenue is expected to grow 170%. Foreign tourists are busy after the opening of the country. Support occupancy rate up 60%, moving forward to increase the brand portfolio of Hop Inn, including opening 3 more locations in Bangkok to serve foreign tourists and expanding through 2-3 more “franchises” to cover the country whole (divide)

(+) COM7 (Bloomberg Consensus 37.80 baht) Open the strategy for the second half of the year to go online Prepare to release new products installment stimulate purchasing power Confident that the annual revenue will grow by 20% after the first half achieved more than 29 billion baht, expanding 100 more branches, pushing the whole year to reach 1,190 branches (coming in time for shares)